US spot bitcoin ETFs have now recorded nine consecutive trading days of net outflows, marking the longest withdrawal streak since the products listed in January 2024. SoSoValue data
Over the nine sessions, investors pulled about $2.8 billion from the funds, surpassing any previous period of sustained selling pressure.
U.S. spot bitcoin ETFs shed about $1.3 billion this week, extending a run of three consecutive weeks of net outflows, according to data tracked by SoSoValue. Monthly withdrawals are now around $2.3 billion.
The outflow has coincided with a sharp drop in bitcoin, which has fallen from approximately $80,000 to $73,000 over the period. However, the broader background extends beyond bitcoin’s own price action. Since the start of the year, bitcoin has lagged behind many of the market’s best-performing assets, particularly AI-related, semiconductor and memory-chip stocks, which have continued to attract capital amid growing enthusiasm around AI infrastructure spending.
Signs of institutional selling have also surfaced below the surface. BlackRock’s iShares Bitcoin Trust (IBIT) recorded its largest single-day outflow since its launch earlier this week, driven largely by a significant dark pool transaction. While the precise motivation behind the trade is unknown, the scale of the redemption suggests that some investors may reallocate capital away from bitcoin exposure and toward sectors that have recently generated stronger returns.
Sustained ETF outflows have often historically coincided with periods of market stress that later developed into local bottoms. Glassnode data shows that the 14-day moving average of ETF flows tends to fall near significant turning points. Similar patterns emerged during the correction in early February, when bitcoin briefly fell toward $60,000, and again in November, when ETF outflows accelerated around bitcoin’s pullback from all-time and local lows near $85,000.
